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Today marks a significant milestone for the influencer marketing sphere as ShopMy, a pioneering marketing platform facilitating connections between content creators and brands, announces a monumental $18.5 million funding raise.
Led by Inspired Capital, this round of funding underscores the growing significance of influencer-driven commerce. With ShopMy at the helm, over 40,000 creators—including digital luminaries like Alix Earle, boasting a combined following of over 10 million across TikTok and Instagram—will now have enhanced avenues to monetize their content.
ShopMy’s innovative platform equips creators with an array of tools tailored for seamless product recommendations. From crafting digital storefronts to accessing a vast catalog of millions of products and generating commissionable links, creators can effortlessly engage with brands while fostering meaningful connections with their audience.
Founded in 2020 by Harry Rein, Chris Tinsley, and Tiffany Lopinsky, ShopMy emerged from a vision to bridge the gap in the social media ecosystem. Recognizing the challenges influencers faced in monetizing their recommendations effectively, the trio embarked on a mission to revolutionize how creators share and monetize their content.
The injection of funds not only reinforces investor confidence in the influencer marketing sector but also underscores the burgeoning growth projected for the creator economy. With industry forecasts predicting the influencer marketing space to swell to approximately $24 billion by 2024 and the creator economy to reach a staggering $480 billion in the next three years, ShopMy is poised for exponential growth.
As ShopMy continues to innovate, it remains committed to offering unparalleled value to both creators and brands. Through unique features such as the "Social Mentions" feed and the recently introduced "Lookbooks," ShopMy empowers brands to glean insights across various social platforms and foster authentic partnerships with creators that align with their aesthetic and values.
Moreover, ShopMy's commission-based model ensures a fair and equitable revenue-sharing system for creators, while brands gain access to a comprehensive suite of advanced features tailored to their specific needs.
With plans to expand its network across diverse niches—including maternity, fitness, wellness, and travel—ShopMy is poised to redefine the influencer marketing landscape. Backed by a roster of esteemed investors, including AlleyCorp, Adobe's Chief Strategy Officer Scott Belsky, Rent the Runway co-founder Jennifer Fleiss, and Granite co-founder and COO Rand Currier, ShopMy is set to usher in a new era of creator-brand collaborations.
